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    Property profile & analytics

    3087 Main St Ext Spartanburg, SC 29307-1264

    • Retail space
    • 7,860 SF
    • 0.43 lot acres
    OFF-MARKET
    Last Sale
    Apr 04, 2024
    $700,000
    Value Estimations
    $700,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-1164905
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Scrapbook Creations / (Bike/Boat/Book/etc) Store
    • Hub City Farmacy / Restaurant / Take-out & Catering

    Property Details for 3087 Main St Ext

    Year built
    2007
    Construction
    METAL FRAME
    Lot size
    0.43 lot acres
    Property size
    7,860 SF
    Property type
    Retail space
    APN
    3-1300-24700
    APU
    3130024700

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $700,000
      ML approach
      $700,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $645,000
      Current use
      MEDICAL BUILDING
      $1,125,000
      Change: +75% Conversion: Difficult
      OFFICE BUILDING
      $750,000
      Change: +17% Conversion: Easy
      COMMERCIAL (GENERAL)
      $640,000
      Change: -0% Conversion: Easy
      AUTO REPAIR, GARAGE
      $620,000
      Change: -4% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $605,000
      Change: -6% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Spartanburg
    County
    Spartanburg
    State
    South Carolina
    Longitude
    -81.8443
    Latitude
    34.9925
    CBSA code
    43900
    CBSA name
    SPARTANBURG, SC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $10,818
    $2,016
    $23,046
    $25,062
    -
    $33,600
    $384,100
    $417,700

    Comparable in this City

    • Value Estimation by Request
      600 SF

      102 Ray Cir

      RETAIL STORES (PERSONAL SERVICES) • 600 SF
      102 Ray Cir, Spartanburg, SC 29307-2856
      View Details
    • Value Estimation
      $2,560,000
      30,004 SF

      1989 Main St

      RETAIL STORES (PERSONAL SERVICES) • 30,004 SF
      1989 Main St, Spartanburg, SC 29307-2308
      View Details
    • Value Estimation by Request
      1,821 SF

      1864 Main St

      RETAIL STORES (PERSONAL SERVICES) • 1,821 SF
      1864 Main St, Spartanburg, SC 29307-2306
      View Details
    • Value Estimation by Request
      2,800 SF

      1430 Skylyn Dr

      RETAIL STORES (PERSONAL SERVICES) • 2,800 SF
      1430 Skylyn Dr, Spartanburg, SC 29307-1032
      View Details
    • Value Estimation
      $630,000
      4,460 SF

      2399 Main St

      RETAIL STORES (PERSONAL SERVICES) • 4,460 SF
      2399 Main St, Spartanburg, SC 29307-1423
      View Details
    • Value Estimation
      $5,990,000
      156,683 SF

      2079 Main St

      RETAIL STORES (PERSONAL SERVICES) • 156,683 SF
      2079 Main St, Spartanburg, SC 29307-1430
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Retail Property in Spartanburg, SC

      Located on main retail corridor near Spartanburg High School.
      Spartanburg, SC 29307
      View Details
    • $850,000
      1.00 Acre

      Spartanburg Retail Land - $850K+

      Prime East Side Spartanburg land, QSR/Restaurant ready.
      2300 Main St, Spartanburg, SC 29307
      View Details
    • $1,975,000
      7.76 Acres

      Main St. Commercial Land Opportunity

      7.76 Acres, High-Visibility Location
      2700 Main St, Spartanburg, SC 29307
      View Details
    • $359,900
      27.70 Acres

      27.7 Acres in Spartanburg

      27.7 acres of land suitable for multiple purposes.
      Neal Rd, Spartanburg, SC 29307
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    • $799,000
      43.41 Acres

      Income-Generating Spartanburg Acreage

      43.41 acres with income potential near Spartanburg, South Carolina.
      1330 Goldmine Rd, Spartanburg, SC 29307
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    • $250,000
      3.50 Acres

      Spartanburg Acreage Near I-85

      3.5-acre property near I-85, ideal for commercial or investment.
      Dewberry Rd, Spartanburg, SC 29307
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    Similar Nearby for Lease

    • Contact for pricing
      11,700 SF

      Retail Outparcel on East Main

      Retail space available on a high-traffic corridor.
      1200 E Main St, Spartanburg, SC 29307
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    • Contact for pricing
      5,500 SF

      Retail/Restaurant Space For Lease

      Retail or restaurant space for lease, approximately 5,500 SF.
      1059 Fernwood Glendale Rd, Spartanburg, SC 29307
      View Details
    • Contact for pricing
      24,000 SF

      Adaptable Commercial Space, High Visibility

      24,000 SF of customizable space with excellent I-85 visibility.
      415 Sha Ln, Spartanburg, SC 29307
      View Details
    • Contact for pricing
      1,050 SF

      Retail Space on Fernwood Drive

      Retail space available for lease in Spartanburg, South Carolina.
      140 Fernwood Dr, Spartanburg, SC 29307
      View Details
    • $15 SF/Yr
      6,900 SF

      Prime Spartanburg Executive Office Space

      4,400 SF Available, Ample Parking
      1023 Fernwood Glendale Rd, Spartanburg, SC 29307
      View Details
    • Contact for pricing
      1,400 SF

      Retail Space For Rent

      Retail space available for lease in Spartanburg, South Carolina.
      200 Dawn Redwood Dr, Spartanburg, SC 29307
      View Details
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    Spartanburg, SC 29307-1264
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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